Fibonacci Behavior
Fibonacci Behavior within Amibroker likely involves analyzing price action based on Fibonacci ratios and patterns. This tool, supported by the Amibroker data feeder, assists traders in understanding how market movements align with Fibonacci levels. Traders rely on this analysis to identify recurring behavior and potential trading opportunities based on Fibonacci principles.
/_SECTION_BEGIN("Fibonaccian Behavior");
/*
This code will easily check the history of the Fibonaccian behavior of a stock/index.
If the white line falls "near" the blue Fibonacci levels, then this behavior may be repeated in the future.
For n0=2 we will have the main Fibonacci sequence
0.381, 0.618, 1, 1.618, 2.618
For n0=3 we will have the wider sequence
0.236, 0.381, 0.618, 1, 1.618, 2.618, 4.236
The parameter n is important.
A stock history may give good Fibonaccian behavior for n=6 but this profile may become irrelevant for n=10.
*/
n=Param("n",6,3,20,1);// Calibrate the Zig percentage
Var1=C;
z=Zig(Var1,n);
PeakCondition=PeakBars(Var1,n)==0;
p1=ValueWhen(PeakCondition,Var1,1);
p2=ValueWhen(PeakCondition,Var1,2);
TroughCondition=TroughBars(Var1,n)==0;
t1=ValueWhen(TroughCondition,Var1,1);
t2=ValueWhen(TroughCondition,Var1,2);
d=IIf(BarsSince(PeakCondition)=d0^n0;i=i*d0)
{
fib=i;
Plot(fib,"",colorBlue,1);
}
Plot(0.5,"",colorBlue,1);
Plot(Var1,"Var1",4,8+styleLeftAxisScale);
Plot(z,"",colorYellow,styleLeftAxisScale);
// Calculation of the current Fibonacci ratio
LVar1=LastValue(Var1);
d1=IIf(BarsSince(PeakCondition)